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I wrap up this mini-series with a final look at the pricing basis behind retail petrol in Singapore. In the grand scheme of things, much can be said, but not necessarily done.
The oil industry can be analysed from the perspective of supply chains. Looking deeper, we can see that interactions between the various suppliers result in double marginalisation of oil prices. What is that and does it contribute to the Rockets and Feathers effect?
I continue from my previous article about the Rockets and Feathers hypothesis for retail petrol prices. You may be surprised to know that some simple Economics’ concepts are sufficient in explaining CCCS’ observations on the retail petrol market.
There has long been suspicion amongst the general public in Singapore that retail petrol prices, like many other consumer goods’ prices, are “sticky” downwards, even when crude oil prices fall. Is this true?
The COVID-19 virus poses a huge economic risk to the USA, and the Federal Reserve has responded with a whopping 0.5% cut to the interest rate. Will this adventurous expansionary measure help matters?
The rate of change of CPI is often used to measure inflation. But do you know how the CPI is derived?
Why do the standard Economics texts studiously urge student to avoid deflationary situations? I have compiled 4 very handy points to get students through their exams, so do read on.
Why do we drag our feet on climate change? It turns out that climate change replicates a conducive environment, familiar to Economists, that triggers our inherent tendency to discount future costs.
We all know about private and public goods. But there is a spectrum of goods that fall between, and are seldom mentioned. What are they, and what do they mean for us?
Why does USA and China persist in the trade war despite it being a lose-lose situation? Game theory, and in particular, the Prisoner’s Dilemma may hold crucial answers to that.
The Marshall-Lerner condition is often either regurgitated with little understanding, or dropped entirely by students in their exams. This post shows you why this concept is so important and why students ignore it at their own risk.
There is a distinction between the properties of product rivalry and excludability that all students must know and apply appropriately. Non-rivalry by itself does not lead to non-production in the market.
A persistent current account deficit is often a sign of poor international competitiveness. But there is more to it than just that, and it doesn’t get prettier for the country.
Proving that comparative advantage drives trade is often a painful affair in exams. We show you how it can easily be done with little memory work required.
This is a rather real issue in Singapore, appearing in the 2018 “A” level Economics exam. We think we can do better than most “recommended answers” and we are sharing it with you.
We know how confusing the foreign exchange topic can be for Economics students. So we put together a series of hacks that will ease your life tremendously!
Find out about how the very commonly used GINI coefficient is derived – it is actually very simple!
Healthcare prices in many developed countries such as Singapore, often experience higher inflation rates than other sectors. Baumol’s Cost Disease is a key explanation behind this phenomenon.
All Economics students know of fiscal policy in demand-management. But they often underestimate its potency as an automatic stabiliser. Read on to find out how to avoid losing in the exam!
How do firms grow? We aim to show that this process isn’t as mysterious as many students imagine it to be.
oBike’s demise has caused significant inconvenience in Singapore. But it appears that Economics theory would have predicted this outcome and allowed us to avoid such fate.
The Shut-Down Conditions of a firm simplified in this article – Economics students’ nightmare no more!
In a rare move, CCS has intervened in the merger between Grab and Uber in Southeast Asia. We analyse the turn of events and shade light on what we have observed so far.
Monopolies are often the scourge in Economics. But bringing anti-competitive perpetrators to justice can be very difficult and long-drawn. Why is that the case?
Inequality is often recognised as a side-effect to the Free Market. Yet too little of it has been discussed for most of us to fully appreciate its associated problems.
Have you heard of Enterprise Singapore? Do you know that in addition to being business-friendly, the government has schemes specifically for business support?
Nearly 25 years have passed since the well-known World Bank report on the East Asian Miracle was published. So how well has the report stood the test of time?
You had just earned your first profit – now can you use your JC Economics theories to help you sustain and grow it further?
Having difficulties tackling evaluations in your Economics essay? This article will guide you through 4 tips to writing your essay like a pro.
The Free Market is a fairly new phenomenon, made possible by various institutional support. As society evolves further, perhaps so will the resource allocation system too.
Feeling that the Law of Diminishing Marginal Returns is difficult to understand and apply? Read here to find out how I dissect it for easier reading.
Most of us are familiar with how Price Elasticity concepts can advise business decisions. However, the concept of Price Elasticity can also be utilised to explain why countries that diversify their exports tend to do better than if they hadn’t.
Finding it difficult to get a good grade for your Economics essay? Writing good essays is not an easy task at all. Fortunately there are 5 highly useful tips that I will share with you – so read on!
We shed light on FDI and what it means for the host country. We show also that FDI, like many items, can be a double-edged sword.
Students may be aware that firms do not necessarily produce at the point where P=MC (Demand meets Supply). But they tend to struggle in explaining why, and this article is explains thus.
Proposing the Coase Theorem as a solution to externalities in your Economics exam not only gives you a better chance for an “A” grade, but may also prove easier to discuss during exams.
Is being thrifty always good? If you had guessed that the answer was “no”, you would have been correct. Savings imbalances can actually destabilise the Economy and cause misery.
Government Interventions are not magic bullets with no costs. In our second part discussion about Government Interventions, we seek to understand why students should be wary about using it as the “cure for all ills”.
Uber is losing large sums of money. Traditional firm shut-down conditions taught in JC Economics dictate that Uber should be shutting down. So why aren’t they doing so yet?
Do you like Economics at “A” level so much that you are considering a degree in Economics? I was in that position before – and I am about to share with you my experience as an undergraduate at NUS studying Economics.
In most cases, Economics diagrams are not shaped the way they are by chance. A good example is the Marginal Revenue curve. Read this article to find out more about its derivation.
The evaluation of Government Interventions need not be painful for students during exams. There are easy ways to discuss about them easily and this article discusses how they can be achieved in 2 simple concepts.
Probably the most common mistake made by students, there are very important differences between “Demand” and “Quantity Demanded”, and using them interchangeably can cost you precious marks during exams.